18 May 2011 10:37
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION
Stobart Group Limited ("Stobart" or the "Company")
Result of General Meeting
Further to the announcement on 21 April 2011 of the Open Offer and the posting on 26 April 2011 of the prospectus and circular, the Board of Stobart are pleased to announce that, at the General Meeting held earlier today, the seven resolutions referred to below and set out in Stobart's notice of general meeting published on 26 April 2011 were passed, without modification, by the requisite majorities.
The number of proxy votes lodged for each resolution before the meeting was as follows:
Resolution | For | % For | Against | % Against | Total Votes | Votes Withheld |
1. Approval of IAML Rule 9 Waiver | 116,852,423 | 80.89 | 27,610,446 | 19.11 | 144,456,428 | 64,732,703 |
2. Amendment of articles of incorporation | 208,942,294 | 99.89 | 243,998 | 0.12 | 209,179,851 | 9,281 |
3. Increase in authorised share capital | 182,560,916 | 87.52 | 26,046,369 | 12.49 | 208,600,844 | 588,287 |
4. Amendment of memorandum of incorporation | 182,568,341 | 87.27 | 26,037,839 | 12.48 | 208,599,739 | 589,392 |
5. Authority to allot Ordinary Shares | 182,037,617 | 87.27 | 26,566,984 | 12.74 | 208,598,160 | 590,971 |
6. Disapplication pre-emption rights | 182,024,335 | 87.26 | 26,582,661 | 12.74 | 208,600,555 | 588,576 |
7. Adoption of the New Incentive Plan | 154,694,976 | 74.41 | 53,198,710 | 25.59 | 207,887,245 | 1,301,886 |
Two copies of the resolutions passed at the meeting have been submitted to the National Storage Mechanism ("NSM") and will shortly be available for inspection at the NSM's website http://www.hemscott.com/nsm.do.
The Open Offer remains conditional upon admission of the Open Offer Shares to the Official List of the UK Listing Authority and to trading on London Stock Exchange's main market for listed securities. It is expected that Admission will occur, and that dealings in the Open Offer Shares will commence, at 8.00 a.m. on 19 May 2011.
Except for words and phrases defined in this announcement, capitalised terms used but not defined in this announcement have the same meanings as set out in the document sent to Shareholders on 26 April 2011.
Enquiries:
Stobart Group 01925 605400
Andrew Tinkler, Chief Executive Officer
Ben Whawell, Chief Financial Officer
Cenkos Securities 020 7397 8900
Nicholas Wells, Stephen Keys, Adrian Hargrave